TLCapital.AI
Research Archive

Deep dives & equity research.

Independent, first-principles analysis on the companies and sectors that matter.

TMT

AI Capex Is the Most Misunderstood Trade in 2026

Why the market is mispricing the entire AI infrastructure buildout — and where the asymmetric setups actually live.

High Conviction
Energy

TMT × Energy: The Supercycle Nobody Is Calling

Two sectors that historically diverged are now structurally linked. Here's what that means for portfolio construction.

Medium Conviction
TMT

SK Hynix: The HBM Monopoly Hiding in Plain Sight

A first-principles look at why Hynix is more durable than the consensus 'cyclical memory' framing suggests.

High Conviction